KUALA LUMPUR (Nov 22): Here is a brief recap of some corporate announcements that made the news on Thursday.

Petron Malaysia Refining & Marketing Bhd’s (KL:PETRONM) net profit for the third quarter ended Sept 30, 2024 (3QFY2024) fell 94.3% to RM4.63 million from RM81.9 million in the same quarter a year earlier on fuel demand correction following the implementation of targeted diesel subsidy in June. Quarterly revenue fell 21.4% to RM3.81 billion from RM4.85 billion in 3QFY2023. — Petron Malaysia's 3Q net profit down 94% on lower sales volume, oil prices

DRB-Hicom Bhd (KL:DRBHCOM) posted a net loss of RM5.29 million for 3QFY2024 compared to a net profit of RM70.8 million in the same quarter last year, on lower vehicle sales and higher loss on derivatives of RM80.27 million. Revenue for the quarter increased by 3.4% to RM4.13 billion, compared with RM4 billion. — DRB-Hicom records net loss in 3Q amid automotive and postal sector weakness

Dayang Enterprise Holdings Bhd’s (KL:DAYANG) net profit for 3QFY2024 surged 76.67% to a record high RM134.94 million from RM76.38 million in the same quarter last year, as vessel utilisation and daily charter rates improved. Revenue jumped 30.48% to RM448.51 million from RM343.76 million. — Dayang says will continue delivering outstanding performance after 3Q profit hits record

AEON Co (M) Bhd’s (KL:AEON) net profit for 3QFY2024 rose 35.4% to RM18.79 million from RM13.88 million a year earlier, as quarterly revenue rose 4.9% to RM1 billion from RM955.9 million, driven by growth across all business segments. — AEON Co 3Q net profit up 35% with growth across all segments

7-Eleven Malaysia Holdings Bhd’s (KL:SEM) net profit for 3QFY2024 fell 24% to RM10.93 million from RM14.32 million in the same quarter last year, as operating expenses outgrew its 5.5% rise in revenue to RM744.05 million from RM705.31 million. It expects a better fourth quarter ahead. — 7-Eleven 3Q net profit down 24% as expenses rise faster than revenue, expects better 4Q

MSM Malaysia Holdings Bhd’s (KL:MSM) net loss for 3QFY2024 stood at RM49.75 million versus RM36.06 million in the same quarter last year, despite revenue rising 6.78% to RM861.44 million from RM806.72 million, due to higher forex losses. — MSM Malaysia continues to bleed for the second consecutive quarter

Far East Holdings Bhd (KL:FAREAST) has declared a special dividend of seven sen per share, payable on Dec 23, as its net profit for 3QFY2024 more than doubled to a record RM64.45 million from RM31.55 million in the same quarter last year on higher production coupled with higher crude palm oil (CPO) and palm kernel (PK) prices. Revenue jumped nearly 76% to RM252.82 million, compared to RM143.74 million. — Far East declares special dividend of seven sen after logging best quarterly profit in over two years

Hap Seng Consolidated Bhd’s (KL:HAPSENG) net profit for 3QFY2024 jumped three-fold to RM193.11 million from RM50.3 million in 3QFY2023, though revenue slipped 3.94% to RM1.48 billion from RM1.54 billion due to weaker credit financing and automotive and trading divisions, mitigated by higher revenue from its plantation and property and building materials divisions. The group declared a second interim dividend of 10 sen per share, payable on Dec 19. — Hap Seng 3Q net profit triples, declares 10 sen dividend

Sunway Construction Group Bhd’s (KL:SUNCON) net profit for 3QFY2024 jumped 32.71% to RM46.47 million from RM35.01 million in the same quarter last year, as revenue rose 28.48% to RM865.33 million from RM673.51 million on the accelerated progress of its data centre projects. A second interim dividend of 2.5 sen per share was declared, payable on Dec 26. — SunCon's 3Q profit jumps 32.71% on accelerated data centre progress

UEM Sunrise Bhd’s (KL:UEM) net profit for 3QFY2024 jumped to RM23 million from RM8.34 million in 3QFY2023, as revenue rose 18.24% to RM369.33 million from RM312.35 million — mainly driven by the sales of non-strategic lands in Iskandar Puteri, Johor, but offset by a weaker property development segment. — UEM Sunrise confident of meeting RM1b sales target as 3Q profit more than doubles

Mega First Corp Bhd’s (KL:MFCB) net profit for 3QFY2024 rose 13.8% to RM116.64 million from RM102.53 million a year earlier, underpinned by stronger renewable energy and resources segments. Quarterly revenue grew 16.1% to RM372 million from RM320.38 million a year ago. — Mega First's 3Q net profit rises 14% boosted by renewable energy and resources segments

Oriental Holdings Bhd’s (KL:ORIENT) net profit for 3QFY2024 fell 70.12% to RM88.87 million, from RM297.42 million on the absence of one-off gains recognised in the corresponding quarter last year. Revenue for the quarter rose 20.72% to RM1.31 billion from RM1.09 billion on higher automotive sales led by the Honda Civic. — Oriental 3Q net profit down 70% on absence of one-off gains

Heitech Padu Bhd (KL:HTPADU) recorded a net profit of RM6.58 million for the third quarter ended Sept 30, 2024 (3QFY2024), compared with a net loss of RM1.4 million in the corresponding quarter, thanks to a one-off gain on disposal of land and building. Revenue for the quarter rose 71.95% to RM109.08 million from RM63.44 million a year earlier but weighed by a surge in expenses for the purchase of hardware and software. — Heitech Padu posts 3Q profit on land, building disposal gain

Can-One Bhd’s (KL:CANONE) net loss for 3QFY2024 widened to RM100.54 million from RM23.12 million in the previous corresponding quarter, dragged by unrealised foreign exchange loss of RM80.6 million. Quarterly revenue, however, grew by 8.93% to RM793.46 million from RM728.44 million, on better contribution from general packaging, contract manufacturing and property development divisions. — Unrealised forex loss drags Can-One further into the red in 3Q

Atlan Holdings Bhd's (KL:ATLAN) Singapore-listed subsidiary 75.53%-owned Duty Free International Ltd (DFIL), which plans to challenge the compulsory acquisition of two plots of land in Kedah by the Malaysian government, announced it had received RM69.6 million as compensation for the land. DFIL had previously said in a bourse filing with the Singapore Exchange that it would accept the award of the compensation under protest as it is not satisfied with it, and that it would file an objection by way of a land reference to the High Court. — Home Affairs Ministry pays Atlan RM69.6 mil for compulsory purchase of its Kedah plot

Maxim Global Bhd (KL:MAXIM) will not pursue action against the revocation of plantation concession licences issued by Indonesia in January 2022 in relation to assets owned by two 90%-owned subsidiaries in Papua. It said the decision will not have any material financial implication to the group as the group has fully impaired its assets in the country. — Maxim Global gives up plantation concession permits in Indonesia

Thong Guan Industries Bhd (KL:TGUAN) has proposed a seven sen per share special dividend from proceeds of the sale of its food and beverage (F&B) business to its largest shareholder Foremost Equals Sdn Bhd for RM60 million. — Thong Guan proposes seven sen dividend from proceeds of sale of F&B business to major shareholder for RM60m

Globetronics Technology Bhd (KL:GTRONIC) has inked an agreement valued at RM145 million to provide integrated circuit product packaging, testing and backend services to Taiwan-based ChipMOS Technologies Inc. The contract is to span three years from Nov 21, 2024, to Nov 20, 2027. The contract’s value of RM145 million is based on a volume forecast provided by ChipMOS. — Globetronics secures RM145 mil contract to provide assembly and test services to Taiwan’s ChipMOS